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Showing 21 - 30 of 81 results for "Australian Financial Services Licensee"

New MDA offering launched

ELIZA BAVIN  |  WEDNESDAY, 2 DEC 2020
Lifestyle Asset Management will introduce a new Managed Discretionary Advice (MDA) service to its authorised representative network and announced the appointment of an investment management coach. Lifestyle's MDA will launch a service pilot and invite ...

ASIC launches action against AFSL, director

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... Sterling Income Trust. The regulator said the action is against Theta Asset Management, an Australian financial services licensee and responsible entity for the trust, and Theta director Robert Patrick Marie. "ASIC alleges that Theta and Mr Marie were ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...

Registration deadline extended: ASIC

ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
ASIC has told Australian financial services licensees that they will not be in breach of the law because their financial advisers were not able to register with ASIC-approved compliances schemes. The original deadline for registering was 1 January 2020. ...

Whistleblower calls out approved product lies

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
A new paper on the consumer impact of Approved Product Lists (APLs) claims institutionally-aligned Australian Financial Services Licensees (AFSLs) are funneling new clients into in-house products, potentially in breach of Best Interest Duty obligations. ...

ASIC nudges robo-adviser to shutter

ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
... voluntarily shut down two robo-advice tools after ASIC raised concerns. Lime FS, a Sydney-based Australian financial services licensee, was running corporate authorised representatives Plenty Wealth, Plenty Plus and Lime Wealth as digital advice providers ...

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... Henderson Maxwell, was also involved in Henderson Maxwell breaching its obligation as an Australian Financial Services licensee to disclose information about relationships or associations that could influence the financial advice provided. The regulator ...

ClearView defends risk advice commissions

KARREN VERGARA  |  TUESDAY, 26 MAR 2019
... of financial advisers can only choose from a narrow menu of products dictated by their Australian Financial Services Licensee (AFSL)." Under the LIF, which was introduced on 1 January 2018, the first year's premium is capped at 80% with a 20% trailing ...

AFSL to begin independent review

DARREN SNYDER  |  WEDNESDAY, 16 JAN 2019
ASIC ordered that an Australian Financial Services Licensee appoint an independent expert to review the implementation of its compliance framework. The regulator said it is concerned with the adequacy and effectiveness of Kaz Capital's compliance framework ...

AFSL super options under the lens

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
The final report recommends ASIC should have greater oversight of the superannuation products sitting on the approved product lists of AFSLs. The Productivity Commission calls for all Australian Financial Services Licensees (AFSL) to "immediately" be ...